Pacs Group price target raised to $32 from $31 at Oppenheimer

Oppenheimer analyst Michael Wiederhorn raised the firm’s price target on Pacs Group to $32 from $31 and keeps an Outperform rating on the shares. The firm notes Pacs reported impressive Q1 results for its first quarter out of the gate. Nevertheless, the portfolio offers significant upside potential, as 30% of the portfolio is considered “new,” with management maintaining its previously estimated $80M-$100M of EBITDA upside potential, Oppenheimer adds.